8304 Fairington Village Dr #8304 · Stonecrest, GA 30038

$99,000

3 bd · 2.0 ba · 1,292 sqft · Condo · 196 Days on market

Built 2004 $315/mo HOA · 19% of rent ↓ 21% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.8/30.0
• 1% rule +10.0/10.0
• DSCR +9.8/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 3 bedroom, 2 bathroom condominium in the Fairington Village community. This home features low-maintenance vinyl flooring throughout, a galley-style kitchen with a laundry room nearby, and a separate dining area that opens into a large living room, creating a comfortable flow for daily living. The versatile third bedroom can serve as a guest room, home office, or flex space. Located in a well-established community, this condo is close to parks, schools, shopping, and public transportation, offering convenient access to everything Lithonia has to offer. Ideal for those seeking space, comfort, and affordability in a great location.

Key facts

• Vinyl flooring
• Galley-style kitchen
• Laundry room

Tags

• VINYL FLOORING
• GALLEY-STYLE KITCHEN
• LAUNDRY ROOM
• SEPARATE DINING AREA
• LARGE LIVING ROOM
• THIRD BEDROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 5.1% in Stonecrest — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Dekalb County (suburban): math 19% / reading 28% proficiency, ranked #125 of 174 in GA (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fairington Elementary School (math 2% / reading 2%, grade F, #1,204 of 1,228 statewide, top 100%, 546 students, 100% FRL); Salem Middle School (math 5% / reading 16%, grade F, #429 of 470 statewide, top 91%, 988 students, 100% FRL); Lithonia High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 1,483 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 8% at this address vs 24% district-wide (-16 pts) — the specific schools serving this property underperform the Dekalb County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.6%/yr); 320 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• DeKalb County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.66% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.11%
• DSCR: 1.58
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.6% rent growth · sell at horizon

5-year hold

• IRR: 5.6%
• Equity multiple: 1.22×
• Total profit: $6,153
• Equity at exit: $14,761

10-year hold

• IRR: 16.9%
• Equity multiple: 2.53×
• Total profit: $42,502
• Equity at exit: $8,560

Cash invested: $27,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 30038

• Home prices YoY: -28.0%
• Rents YoY: 4.6%
• Active inventory: 320
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,648 high
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$315
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $303

Break-even live

Break-even rent $1,265

Max offer price $99,000

Occupancy floor 77%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7104 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	3d	1	0.05mi
8202 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1300	$1,900	$1.46	43d	1	0.05mi
6301 Fairington Village Dr Stonecrest, GA	3.0	2.0	1300	$1,900	$1.46	5d	1	0.07mi
14204 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,550	$1.20	43d	1	0.08mi
14302 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,650	$1.28	43d	1	0.09mi
5104 Fairington Ridge Cir Unit 5104 Stonecrest, GA	3.0	2.0	1292	$1,400	$1.08	24d	1	0.09mi
5201 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1226	$1,645	$1.34	43d	1	0.09mi
13202 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,650	$1.28	16d	1	0.12mi
13101 Fairington Ridge Cir Unit 101 Stonecrest, GA	3.0	2.0	1292	$1,400	$1.08	24d	1	0.12mi
2649 Parrish Ct Lithonia, GA	3.0	2.5	1588	$1,800	$1.13	43d	1	0.15mi
2204 Fairington Village Dr Lithonia, GA	3.0	2.0	1292	$1,295	$1.00	24d	1	0.16mi
2204 Fairington Village Dr Lithonia, GA	3.0	2.0	1292	$1,295	$1.00	20d	1	0.16mi
2102 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,545	$1.20	10d	1	0.16mi
2898 Norfair Loop Lithonia, GA	2.0	1.5	1240	$1,506	$1.21	5d	1	0.20mi
3024 Parc Lorraine Lithonia, GA	3.0	2.0	1628	$1,550	$0.95	3d	1	0.23mi
89 Tiburon Ct Lithonia, GA	2.0	1.5	1250	$1,450	$1.16	12d	1	0.23mi
2437 Piering Dr Lithonia, GA	3.0	2.5	1560	$1,600	$1.03	43d	1	0.23mi
100 Walden Brook Dr Stonecrest, GA	1.0–3.0	1.0–2.0	1132	$1,607	$1.42	1d	15	0.25mi
3064 Parc Lorraine Unit 1 Stonecrest, GA	2.0	2.0	1280	$1,195	$0.93	4d	1	0.29mi
2940 Parc Lorraine Unit 1 Stonecrest, GA	2.0	2.0	1072	$1,195	$1.11	43d	1	0.29mi
2932 Parc Lorraine Lithonia, GA	2.0	2.0	1280	$1,399	$1.09	24d	1	0.30mi
5876 Trent Walk Dr Lithonia, GA	2.0	1.5	1084	$1,550	$1.43	5d	1	0.30mi
2928 Parc Lorraine Lithonia, GA	3.0	2.0	1788	$1,425	$0.80	22d	1	0.31mi
4101 Fairington Club Dr Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	43d	1	0.31mi
4103 Fairington Club Dr Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	43d	1	0.32mi
5850 Hillandale Dr Lithonia, GA	1.0–3.0	1.0–2.0	1119	$1,754	$1.57	1d	11	0.38mi
5812 Trent Walk Dr Unit 1 Stonecrest, GA	3.0	2.0	1350	$1,600	$1.19	43d	1	0.39mi
5796 Trent Walk Dr Lithonia, GA	3.0	2.0	1350	$1,570	$1.16	5d	1	0.40mi
421 Meadowood Dr Stonecrest, GA	2.0–3.0	1.5–2.0	1328	$1,499	$1.13	24d	18	0.41mi
5926 Trent Jones Way Lithonia, GA	2.0	2.5	1122	$1,200	$1.07	17d	1	0.42mi
2102 Par Three Way Lithonia, GA	3.0	2.0	1202	$1,500	$1.25	5d	1	0.48mi
1202 Par Three Way Lithonia, GA	2.0	2.0	1202	$1,200	$1.00	18d	1	0.50mi
5654 Bradley Cir Lithonia, GA	2.0	1.0	1428	$1,673	$1.17	5d	1	0.50mi
5588 Fairington Pl Lithonia, GA	2.0	1.0	1260	$1,295	$1.03	43d	1	0.50mi
3060 Aberdeen Way Lithonia, GA	3.0	2.0	1592	$1,850	$1.16	24d	1	0.55mi
46 Le Parc Fontaine Lithonia, GA	2.0	2.0	1376	$1,350	$0.98	43d	1	0.55mi
5052 Chupp Way Cir Lithonia, GA	2.0	2.5	1150	$1,580	$1.37	43d	1	0.58mi
5044 Chupp Way Cir Lithonia, GA	3.0	2.5	1212	$1,395	$1.15	22d	1	0.59mi
3021 Fields Dr Lithonia, GA	3.0	2.5	1450	$1,595	$1.10	24d	1	0.60mi
3127 Fields Dr Lithonia, GA	2.0	2.5	1206	$1,800	$1.49	18d	1	0.61mi

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-03-24
   status Under Contract 645-char remark

   Show marketing remark (645 chars)

   Spacious 3 bedroom, 2 bathroom condominium in the Fairington Village community. This home features low-maintenance vinyl flooring throughout, a galley-style kitchen with a laundry room nearby, and a separate dining area that opens into a large living room, creating a comfortable flow for daily living. The versatile third bedroom can serve as a guest room, home office, or flex space. Located in a well-established community, this condo is close to parks, schools, shopping, and public transportation, offering convenient access to everything Lithonia has to offer. Ideal for those seeking space, comfort, and affordability in a great location.

2. 2026-03-21
   status Pending
3. 2026-03-16
   historical Active Under Contract
4. 2025-12-22
   price $99,000 645-char remark

   Show marketing remark (645 chars)

   Spacious 3 bedroom, 2 bathroom condominium in the Fairington Village community. This home features low-maintenance vinyl flooring throughout, a galley-style kitchen with a laundry room nearby, and a separate dining area that opens into a large living room, creating a comfortable flow for daily living. The versatile third bedroom can serve as a guest room, home office, or flex space. Located in a well-established community, this condo is close to parks, schools, shopping, and public transportation, offering convenient access to everything Lithonia has to offer. Ideal for those seeking space, comfort, and affordability in a great location.

5. 2025-12-22
   price $99,000

   Show marketing remark (645 chars)

   Spacious 3 bedroom, 2 bathroom condominium in the Fairington Village community. This home features low-maintenance vinyl flooring throughout, a galley-style kitchen with a laundry room nearby, and a separate dining area that opens into a large living room, creating a comfortable flow for daily living. The versatile third bedroom can serve as a guest room, home office, or flex space. Located in a well-established community, this condo is close to parks, schools, shopping, and public transportation, offering convenient access to everything Lithonia has to offer. Ideal for those seeking space, comfort, and affordability in a great location.

6. 2025-09-05
   listed $129,000 New 645-char remark

   Show marketing remark (645 chars)

   Spacious 3 bedroom, 2 bathroom condominium in the Fairington Village community. This home features low-maintenance vinyl flooring throughout, a galley-style kitchen with a laundry room nearby, and a separate dining area that opens into a large living room, creating a comfortable flow for daily living. The versatile third bedroom can serve as a guest room, home office, or flex space. Located in a well-established community, this condo is close to parks, schools, shopping, and public transportation, offering convenient access to everything Lithonia has to offer. Ideal for those seeking space, comfort, and affordability in a great location.

7. 2025-09-05
   listed $129,000 Active

   Show marketing remark (645 chars)

   Spacious 3 bedroom, 2 bathroom condominium in the Fairington Village community. This home features low-maintenance vinyl flooring throughout, a galley-style kitchen with a laundry room nearby, and a separate dining area that opens into a large living room, creating a comfortable flow for daily living. The versatile third bedroom can serve as a guest room, home office, or flex space. Located in a well-established community, this condo is close to parks, schools, shopping, and public transportation, offering convenient access to everything Lithonia has to offer. Ideal for those seeking space, comfort, and affordability in a great location.

8. 2022-09-13
   status Back On Market
9. 2022-09-13
   historical
10. 2022-09-02
    status Under Contract
11. 2022-08-22
    listed $125,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,776
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − HOA: −$3,780
• − Depreciation: −$2,880
• Taxable income: $2,426
• Est. tax owed @ 24.0%: −$582
• After-tax cash flow: $3,051/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Dekalb County
• NCES district ID: 1301740
• Math proficiency: 19% ▼ -12.00%
• Reading proficiency: 28% ▼ -7.00%
• Median HH income: $51,448
• Composite: 20.92/100
• National rank: #8482
• State rank: #125 of 174 in GA

Livability — Stonecrest

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Stonecrest, GA
• County: Dekalb County · 782,738 people
• City population: 106,165
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 43,776
• Household income: $73,694
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1168.0

Population outlook (DeKalb County) Hauer SSP2

• Today (2025): 839,977 people
• By 2030: 891,768 · +6.2%
• By 2040: 988,894 · +17.7%
• By 2050: 1,074,583 · +27.9%
• By 2075: 1,245,026 · +48.2%
• By 2100: 1,303,135 · +55.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (84%)
• Race & ethnicity: Black 84% Two or more races 10% Hispanic / Latino 5% White 4% Asian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 0%

Political lean MEDSL · DeKalb

• 2024 margin: Solid D (+64.8) · D 81.9% · R 17.1% · Other 1.0%
• 2008→2024 swing: +6.1pp toward D · 2008: 58.6pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+67.4 2016: D+64.8 2012: D+56.8 2008: D+58.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.98%
• Current HPI: 192.8328
• Rent YoY: ▲ 4.60%
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

-20.8% since first listed

11 events — show timeline

• 2026-03-24 Pending — GAMLS
• 2026-03-21 Pending — FMLS
• 2026-03-16 Contingent — FMLS
• 2025-12-22 Price Changed $99,000 GAMLS
• 2025-12-22 Price Changed $99,000 FMLS
• 2025-09-05 Listed $129,000 FMLS
• 2025-09-05 Listed $129,000 GAMLS
• 2022-09-13 Relisted — GAMLS
• 2022-09-13 Listing Removed — GAMLS
• 2022-09-02 Pending — GAMLS
• 2022-08-22 Listed $125,000 GAMLS